Oman: Silk Yarn Market 2023

Silk Yarn Market Size in Oman

In 2021, the Omani silk yarn market was finally on the rise to reach $X for the first time since 2012, thus ending a eight-year declining trend. Over the period under review, consumption, however, recorded a abrupt setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Silk Yarn Production in Oman

In value terms, silk yarn production totaled $X in 2021 estimated in export price. In general, production, however, showed a deep reduction. Silk yarn production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Silk Yarn Exports

Exports from Oman

In 2021, shipments abroad of silk yarn and yarn spun from silk waste decreased by -46% to X tons, falling for the second year in a row after two years of decline. Overall, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 238% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, silk yarn exports fell sharply to $X in 2021. Over the period under review, exports showed a precipitous contraction. The pace of growth appeared the most rapid in 2017 with an increase of 31% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Yemen (X tons) was the main destination for silk yarn exports from Oman, accounting for a 97% share of total exports. It was followed by the United Arab Emirates (X kg), with a 2.7% share of total exports.

From 2016 to 2021, the average annual growth rate of volume to Yemen totaled -34.3%.

In value terms, Yemen ($X) remains the key foreign market for silk yarn and yarn spun from silk waste exports from Oman, comprising 93% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7.4% share of total exports.

From 2016 to 2021, the average annual growth rate of value to Yemen amounted to -43.7%.

Export Prices by Country

In 2021, the average silk yarn export price amounted to $X per ton, waning by -42.7% against the previous year. Over the period under review, the export price showed a significant decrease. The most prominent rate of growth was recorded in 2020 a decrease of -2% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Yemen amounted to $X per ton.

From 2016 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+159.2%), while the prices for the other major destinations experienced mixed trend patterns.

Silk Yarn Imports

Imports into Oman

In 2021, supplies from abroad of silk yarn and yarn spun from silk waste increased by 54% to X kg for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, faced a sharp descent. The most prominent rate of growth was recorded in 2018 when imports increased by 2,205%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, silk yarn imports surged to $X in 2021. Over the period under review, imports, however, saw a dramatic shrinkage. The pace of growth appeared the most rapid in 2018 when imports increased by 1,389% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X kg), India (X kg) and the United Arab Emirates (X kg) were the main suppliers of silk yarn imports to Oman, with a combined 94% share of total imports. These countries were followed by the Netherlands and Turkey, which together accounted for a further 5.7%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of 0.0%), while imports for the other leaders experienced a decline.

In value terms, the Netherlands ($X) constituted the largest supplier of silk yarn and yarn spun from silk waste to Oman, comprising 47% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands amounted to +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-28.8% per year) and China (-28.5% per year).

Import Prices by Country

In 2021, the average silk yarn import price amounted to $X per ton, rising by 1.9% against the previous year. In general, the import price, however, continues to indicate a slight setback. The growth pace was the most rapid in 2015 an increase of 38% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+13.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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